Canadian marijuana stock Aurora Cannabis Inc. (TSX:ACB) has launched a new cannabis brand in Germany with the help of Heinrich Klenk GmbH & Co. KG
SmallCapPower | May 31, 2018: Aurora Cannabis Inc. (TSX:ACB) Monday announced that its wholly-owned subsidiary, Pedanios GmbH, has signed a collaboration agreement with Heinrich Klenk GmbH & Co. KG, one of Europe’s largest medicinal plant companies. For over 90 years, Heinrich Klenk has been importing, exporting and processing medicinal plants and herbal raw materials for the pharmaceutical industry throughout Germany and other parts of Europe in more than 25,000 pharmacies.
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As per the terms of the agreement Aurora Cannabis, a Canadian marijuana stock, has launched a new cannabis brand in Germany named ‘Cannabis Klenk’. This brand is produced in Canada, imported by Pedanios, and then sold to German pharmacies through Heinrich Klenk’s existing and wide-reaching pharmaceutical wholesale distribution network. Heinrich Klenk has made its mark in Germany on the back of quality product offerings as well as reliable distribution network.
Aurora Cannabis Chief Global Business Development Officer Neil Belot said, “Klenk is a fantastic partner for Aurora, enabling us to add to our already leading presence in the German market with one of the country’s most widely recognized medicinal plant brands and most comprehensive distribution networks. Operating for over 90 years, Klenk is one of the most trusted partners to the pharmaceutical wholesale and pharmacy sectors. This, we believe, will help further destigmatize the use of medical cannabis in Germany and accelerate growth. Klenk’s decentralized distribution capabilities ensure short supply lines throughout the entire country, greatly increasing our market reach, while reducing the need to invest heavily in our own sales and fulfillment capabilities.”
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Currently, Cannabis Klenk-branded products are held in over 20 distribution hubs located across Germany in order to facilitate fast and uncomplicated access, as well as same-day delivery service to pharmacies where available.
Aurora Cannabis currently trades at market capitalization of $4.6 billion with price-to-book multiple of 3.32x. After the announcement Aurora Cannabis, a Canadian marijuana stock, rose 1.5% on the TSX to close at $8.14 on Monday.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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